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tv   Varney Company  FOX Business  January 16, 2015 11:00am-1:01pm EST

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etirement to saving for college. our commitment to current and former military members and their families is without equal. start investing with as little as fifty dollars. maria: welcome back. stuart, have a great show. stuart: thank you very much. another 100 plus terrorist getting out soon. our economy slowing the latest numbers. a fox news poll shows two out of three things that we are still in recession.
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the government says prices are falling. here we go again. varney and company is about to begin. ♪ the market went up significantly. we were up 10. now we are up 75. goldman is a taos stock. when that stock goes down, it shaves points. the loss accounts for 20 points on the dow. toyota. dare we say it is finding a bottom? down a fraction of a penny overnight. it is still down above 22.
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that is just money straight back into your pocket. happy friday. three states hitting the $1 club. everyone in the center of the country can get gas will load $2. if you go to taxes you get the cheapest gas in the lands. interest rates touched 1.73%. they spiked down early this morning. they came back up again. we are at 1.8 to write out. there is financial fallout from the president immigrant amnesty. 2 million of those nearly amnesty people will be eligible for cash. repeat cash. direct from the u.s. treasury.
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millions will now be eligible for social security and medicare as well. steve hays joins us now. you think that they may be a little outraged at giving amnesty illegals cash? >> i think -- when you look at what causes people the most frustration over the immigration debate and policy, i think you are looking at it right here. republicans would be wise to adopt a fewer than if it policy. i think people would be open to a ronald reagan's style, not amnesty, but ronald reagan policies where we are inviting people to come. coming to work and be this members of society. what we do not want is bringing people to the country so we can immediately put them on the
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dole. it just does not make any sense. stuart: the president is not offering any retreat at all. he is staying to the left. not willing to compromise at all. this is our graphic for a long line of the toes. the president will veto all of those measures. when he vetoes them, the republicans will look bad because they are trying to say no. no. you cannot have all of these goodies. >> i think the president seems to be almost desperate. getting out of this pitch for two years three community college. nothing, of course is free, with respect to elkton friedman. republicans, i think would be
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wise. after all, one third of the people that voted said specifically they casted their votes to block president obama. i think republicans are okay there. they need to set forth their own agenda. their own economic agenda. make clear where they are different from the president. since the president was you like it gallup has done 85 surveys asking people what they think about the direction of the country. people dissatisfied with the country. republicans need to just say hey, we are not going in this direction. stuart: can't they get a number of democrats to go with them? >> i would think they can.
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this is a key question. if you look at what has come out of the key majority's, i think you get the senate leadership answer. no, we cannot get democrats to go along with us. i think that they ought to try. make your case for comprehensive tax reform. not just repealing the medical tax as part of obamacare. make the pitchfork brought based comprehensive tax form. three years of irs scandals. flagging the economy or stagnant economy. people are ready for big change. >> do you fault the republicans? give us prosperity. >> they are not doing that. i understand the position that
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they are in. he said, look, we just do not want to screw this up. we do not want to mess up the playing field. in any case, president obama is unlikely to sign anything that we would pass and include real change. if you just come to washington and occupy space here, you will become part of the problem. they hate congress. they hate washington. you now have for public and taking up majorities in both areas of congress. they will be held responsible for not doing anything. stuart: one small favor to ask of you. next time you are on special report would you please ask him why on earth he favors an increase in the tax forecast.
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>> i hope we debate it tonight. stuart: to terror suspects killed out of well jump. another third team in custody after police raided a cell. those targeted in the rate have been under surveillance. about 80 miles southeast of russell. aim .belgium police. so far there is no connection to the attacks in paris. police have arrested 12 people. check out big board. this is a modest gain. just shy of 174. good time to bring in john layfield. joining us from bermuda. there is at visiting on the terror front john.
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is that reflected in the stock market at all? >> i think it is. you have some problems with the swiss currency. i think terrorism is definitely a part of it. 3700 the billions were killed, ordered. just a short amount of time. even in the middle east. the president just weighed the human rights stipulation where we can find the bad guys, the terrorist, against worse terrorists. global uncertainty is hurting the market. stuart: i think we can all understand the position that some traders are in. they want to go into a weekend holding a bottle of stock without knowing exactly what will happen on the terror front.
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i think i can understand a little bit of anxiety on that front. >> exactly. you have a big terror attack. most do not last a long time in the market. most of them -- they are tips in the market. so many things going on. stuart: almost two thirds of people polled say they still feel like america is in recession. 64%. two out of three people. why do people think we are in a recession? >> we had a lot of jobs lost. we lost a lot of middle income jobs. we still have a very high labor force her to the patient rate that is not working.
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stuart: john layfield. thank you very much indeed, sir. we will see you next week. >> yes. stuart: google class. headed for a redesign. i am not sure i like the look with those things on. i am not sure i want stuff popping up in front of my eyeballs. >> i know. i think you look lovely in those classes, but at the same time, no. stuart: of next, what does google have in the pipeline. we will tell you that. you have to watch this. this is one of those priceless videos. this is from the price is right. the announcer.
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there he goes. wiping out on the track belt. ♪
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stuart: friday morning. modest gains. another administration official tied to the disastrous obamacare rollout has resigned. she is credited with launching the website. no reason given for her retirement. again, no reason is being given for her departure. elon musk taking what he describes as the next step towards his hyper loop. making the trip around san
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francisco to los angeles and 35 minutes, if it were ever built. building a test track. any significant in building in texas and not california? >> yes. that would be the cost. it was the right efficient to make. the tax structure and the low wages. >> elon musk just came out and said it. california is not his best friend lay. i am not a thing in a place -- >> it is a great idea. it will be tested in texas. maybe we should come up with a hyper loop from dallas to
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houston. stuart: i wonder if his showmanship is running out of steam. he has this wonderful great idea. >> i think that he has made too many mistakes. in this case, he is making the right business decision. it looks that to those that follow him and kind of worship him. by the way smart move to build it in texas. a lot cheaper. stuart: a good business decision. good for him. >> texan people are nice. the cowboys fan that next to you every day. stuart: at my age, you have no memory. yesterday was a total blur. that is how it is.
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you will get there. apple and google. those two stocks have been somewhat beaten-down recently. google is down 5%. why the selloff? not coming up with much innovation. bring in social radar -- a list starting with google. go. >> i think you will see a couple of things this year for google. an expansion for their android software. 80% of mobile devices around the world use the android software. i think that you will see expansion there. they will use youtube like a content distribution channel. it may help with ad revenue.
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finally, an investment in the innovative side of google. you will see other potential robotic investment from google. >> i would agree with you. they would bring money in. as opposed to a bright, shiny new idea. how about apple. a list of what is coming down the line from apple? >> i do. i think the first one is apple watch. it will come out this spring. this will be a game changer for the smart watch. the ipad plus or ipad pro which they are calling it, a 12.9-inch ipad that will rival the galaxy, the note that has
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been released by microsoft. the ipad plus or the ipad pro. the surface pro three from microsoft that they are looking to rival. it replaces your laptop that you usually use. stuart: the iphone six plus. it has a nice big screen. a lot of people love it. a lot of people do not like it because it is too big. i just wonder who will get the right size smart phone that everybody loves and everybody uses. >> there will always be a debate about the right size smart phone. stuart: let me ask you about
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google class. they are scrapping version one. what do you think about google class? i did not particularly care for it when i tried it out. >> as an early class explorer it is not really pretty. kind of low-key and ugly. the mac do you use it? >> i have used it. not a lot of folks are developing software that made it incredibly useful. it just looked bulky, as you mentioned. we will see some different kind of attention.
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you can make it more user-friendly. >> yes. a third of americans would rather remain celibate and give up their cell phones. what would you do? listen to some barry white don't you. [laughter] ♪
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you total your brand new car. nobody's hurt,but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do, drive three-quarters of a car? now if you had a liberty mutual new car replacement, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. new car replacement
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is just one of the features that come standard with a base liberty mutual policy. and for drivers with accident forgivness,rates won't go up due to your first accident. learn more by calling switch to liberty mutual and you can save up to $423. for a free quote today,call liberty mutual insurance at see car insurance in a whole new light. liberty mutual insurance. ♪ stuart: sorry. even more to set a romantic mood for the weekend. this is shocking to me.
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a new survey reveals almost 1-third of red blood americans would rather give up sex for a year than part with their cellphones for that long. this is nonsense. cheryl: 55% of those surveyed would rather give up sex for a year's end above their cellphones for this amount of time, 55%. call the boston consulting group's because they did the survey, a did not. 45% said they would put off going on vacation, 55% wouldn't go out -- stuart: what about other countries? cheryl: on the other side of the survey was the brazilians who said they are not giving up sex they will -- the brazilians, only 22%. stuart: is there any country that had more than 55% would
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give up sex for a year. cheryl: the germans went along with that. germans are the same group that for the most part they give up sex. and 1,000 americans. it is pure nonsense. there are a lot of things on the antenna. stuart: let's move on. it is a similar story. residents of a small danish town population 13,000, agreed to spend more time making babies. apparently the birthrate has
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stalled. it is the lowest in denmark, a mere 1.6 babies per family not good enough. cheryl: a pretty town in denmark take pictures, there are a 13,000 people there and they have an ad campaign with the sexy blond woman trying to encourage them to go have sex and have kids back to the sex story and even in the churches end counts they're having give aways if you show something positive cash prizes. the worry about the population dwindling which is a fair point. stuart: we shouldn't make a joke of it because it is a serious problem, extremely low birth rate. europe is losing population literally engaging at the same time, a huge demographic problem. you will see more towns like this.
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cheryl: is it cultural? or scientific? >> it is economic. people are truly squeeze, by the economic environment of europe and it is going to them. their solis got this hagen's which doesn't help. cammed birth rates are falling in the united states, marriage is at an all-time low, not far behind. bernard: when you rely on people like me to come to help you out for having six children. cheryl: and sent them to college and they are going to work and pay taxes. stuart: a quick stock check. giveback to our core program which is checking stocks. target upgraded by morgan stanley, credit suisse, and nbc
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stuart: i won't say the go nowhere market at lunchtime on a friday but it is ago when nowhere market at this point.
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nice pop for oil this morning, up $1.47. speculation whether 46 or 47 is the bottom in this long drawn-out collapse in the price of oil. higher oil is giving drillers a boost. the five we are looking at are leaving, the best performers in the s&p 500. national average down a fraction of a penny, that means it is down $1.22 from this time last year. for every gallon of gas you by now you are saving money in your pocket. the interest-rate barometer 1.8 zero%, a yield on the ten year treasury, real volatility down 173 earlier this morning. now this. nbc news host al sharpton beating cries of racism for the lack of diversity in the oscar nominations saying they're too white. the head of sony pictures gave him a script approval last
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month. she is calling for an emergency meeting. cheryl: to be held in hollywood with top hollywood producers and studio executives to talk about this year's oscar-nominated sins. if you look at the 20 nominations for best supporting actor, all 20 there's not one person who is african-american in those 20 people. last year 20 years a slave dominated the oscars. management last year -- that was an amazing movie but this year which was 12 years a save, selma did not get nominated best picture, about the civil rights at the same time if you look at the breakdown of the academy for the most part the voters is 93% white. that is one of the points he is making. this is the first time since i believe 1999 that we have not
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had a diverse group of actors and actresses nominated. this is the first time we have seen this in years and years. stuart: with will hollywood have to give him to go away? cheryl: money. stuart: let's get to the economy. almost two thirds of voters say the u.s. is in recession. come on in, chief economist with the u.s. chamber of commerce. we are not in recession. we are expending so why are two of three people think we are in this kind of economic malaise? >> when we look at the data the short run economy is better. since the middle of 2009 the growth rates have been so slow, we haven't closed the gdp data. we are not even back to our potential six years after the start of a recovery and that is unheard of. and that is the measure of the opportunity out there and that
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is the metric that measures the american dream and that is the potential rate of growth, it downshifted again and again and again. none other than larry summers produced a chart showing estimates of long run potential of our economy have downshifted every single year of the obama administration. people feel that and that is how you think the economy is doing, they say not very good. stuart: how about the rest of the world? when i look around i see currencies in absolute turmoil interest rates plunging all over the place, massive debt being driven up in europe and certainly in a japan and america. doesn't look like the rest of the world is doing better. looks like they are doing worse. >> the rest of the world is doing worse. if you look at the policies are around the world you got aggressive monetary policies in japan, monetary policies that will be more aggressive in western europe and we tighten our some time this year towards the end of the year and then you
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will see a real juxtaposition between how we are doing and how the rest of the world is doing but it won't get to our potential. we need to change our policies if we are going to get back where we should be and if people will feel good about the economy. stuart: i presume you want less regulation, you want lower corporate tax rates, lower personal income tax rates. is that basically the chamber of commerce plan to get us going towards the proper birth rate? >> in the shore run in the near term you got to focus on our strengths, energy and infrastructure and technology but in the long run absolutely you have to reform the immigration system and the tax code and regulatory process so we don't overburden the economy and keep dragging it down. stuart: i will introductory you for a second. we have two more years of this administration blocking all the stuff you just talked about.
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>> we hope the congress and the administration can find some common ground. as yet it is hard to point that how. it is hard to find that. being a realist, it is a heavy lift, difficult slog but we have to try because we can't squander another two years and continued to slip in the long run potential. stuart: i don't think you can restrain american capitalism and other two years. i hope you can't do that. chamber of commerce chief economist thank you for being with us. up next i think i was right more proof suggesting the flu shot doesn't work. it has been a waste of time and money after this. i am elderly, fit as a fiddle, nothing wrong with me at all to my knowledge.
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nicole: i am nicole petallides. the dow jones industrial average up 55 points sitting at 17,376, the s&p 500 up 11 and the nasdaq up 26 points. look at the dow movers, watching exxon and chevron with a up arrows, energy bouncing back, caterpillar and goldman sachs on
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the bottom part, caterpillar down 1.1%. a little bit of a cautionary tone. schlumberger had a higher oil price and in the fourth quarter they plan to shed 9,000 jobs. now 4.7% to the upside and united airlines actually plan two pending government approval out of their houston and newark new jersey airport. united continental down 5. more "varney and company" coming up. if you're running a business legalzoom has your back. over the last 10 years we've helped over one million business owners get started. visit us today for legal help u can count on to start and run your business. legalzoom. legal help is here. ♪ hi, tom. how's the college visit? does it make the short list? yeah, i'm afraid so. it's okay.
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and former military members and their families is without equal. start investing with as little as fifty dollars. stuart: the centers for disease control backing up what i was sighing along. the flu shot is 20% effective doesn't protect you from both flu strains that going around this year. 13 cases and licked to disneyland. and 39 disney linked cases. i don't think the flu shot worked. i am sure you will agree with that. cheryl: only 10% are effective overall. as far as the measles shot go,
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in particular hollywood celebrities do not have your children back because of the risk of autism. stuart: is that -- a bogus challenge. >> it has been disproved over endeavour, publicly shed down by this particularly by the cdc but, in their mind, vaccinations giving kids autism or harming them the american public is listening to that. and what is happening at disneyland. stuart: mercedes-benz, moving from the current home in new jersey. in atlanta georgia leverage economic incentives. look who is here. the president and ceo welcome
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to the program. you are part of the bigger picture here. you are bringing migration out of high tax business and friendly states down to places with low tax where they are business friendly. what did georgia offer you. >> dynamic work force. that is the first question, about the incentives that make a 50 year decision and when you think of a 50 year decision $23 million is peanuts. is not about a pile of incentives but finding a place that puts you in part of where america is going and establishes your platform for success. stuart: governor chris christie of new jersey had come up with a package worth $23 million you would have stayed in new jersey? >> i met with chris christie on that issue. in my statement to him, it wasn't about incentives, a 50
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year decision, you put the business case together and crank up another, it doesn't move the knee will very much on the business case. stuart: what did he say when he said you are going anyway? >> he was very disappointed. obviously want -- stuart: he has taken a political hit when you leave. >> if you think you're doing the favor by not calling out that it is the high cost of doing business place to work, high cost of living please don't do that. i want to make sure my constituents and fellow legislators hear the message loud and clear. new jersey has been a great place for us, 50 years of success but it is time to set up the next chapter and do it in a new environment was the choice we made. stuart: when you build mercedes cars in alabama. >> right next to birmingham. stuart: tell me about the quality of the cars produced in alabama. there is an old saw which says you can't build quality outside
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of germany. only german engineers and german workers can come of with receive quality. >> we have been proving the contrary to that for the last the teen years. we have been producing quality mercedes-benz cars since 1987. our mantra is made by mercedes. whether it is meeting shot or birmingham, alabama or hungry or anyone else. stuart: what proportion of the mercedes cars sold in the united states are built in alabama? >> 50%. we doubled our capacity down there. justice introduced the c class interested and we launched this year and our biggest volume also all of our trucks are light trucks, sport-utility splits the c class is produced right next door to us in alabama. that will be a great synergy having our headquarters right nearby our biggest production facility. stuart: i know a lot of mercedes executives because i did in bergen county right next to your
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former headquarters. a lot of these executives are not going down to georgia and they are not real happy about it. what do you say? >> not everyone will make that choice. everyone has family and friends so we said to our team when we made this decision we are going to respect your choice in treat you with dignity. not everyone will make the trip. most companies the new headquarters, a benchmark is 40% of the people make the trip. stuart: how many executives? >> we don't know. we think it will be a strong number. of course i am going. i will lead the charge. stuart: thank you very much for joining us. we appreciate it. classic cars for big money, auctions generating big sales $1.2 billion for that kind of auction of plastic cards last year. up next we take you to a car auction, you want to see a $2 million ferrari? you will see several in a moment.
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is just one of the features that come standard with a base liberty mutual policy. and for drivers with accident forgivness,rates won't go up due to your first accident. learn more by calling switch to liberty mutual and you can save up to $423. for a free quote today,call liberty mutual insurance at see car insurance in a whole new light. liberty mutual insurance.
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stuart: wendy's the latest fast-food chain to remove soda from the children's menu. instead the only drink options to be shown will be apple juice, ball water, chocolate milk and regular milk. these would be mcdonald's,
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subway, chipotle, are these, panera, leaving just burger king allowing kids to water soda. classic car auctions a record $1.2 billion in sales in 2014, this year's sales could top that. adam shapiro come john in. he is live at the car auction in scottsdale arizona. i want you to show us the cause one at a time and tell us the price. >> we have a record breaker right here. this is a 1966 ferrari 275 gps, world record last night $2.3 million, lovely,. not to be outdone by this 1966 ferrari 275, it sold for $2.7 million, not a record breaker so it is a bargain. this is the kind of thing you are going to buy. in this 1962 ferrari, it sold for $1.7 million. if it looks familiar as the
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styling of the california spider. this car very desirable but i would take the first one $2.3 million would be a good bonus. stuart: they are beautiful cars, classics. who is buying them? >> great question. two of these were bought by american collectors. one of the was bought by a foreigner some curmudgeonly british expatriate with too many children with acute minivan, deal anyone in mind? stuart: very funny. we cheer about art work wonderful wine being bought by billionaires from china. do you happen to know a billionaire from china in the market for ferrari? >> you can be a private buyer. is possible that can happen. but when i ask, it tends to be the north american and european ferrari collectors. they can to be established collectors, people a little bit over 50 years old who do have their fortunes, not so much for
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lack of a better term in china. stuart: i think you are there for the whole day so throughout today you will be showing our viewers wonderful cause and amazing prices. adam shapiro right there, thanks see you real soon. five terrorists released from gitmo transferred overseas and the white house says that helps, they say it helps fight terrorism. that will be discussed in a moment. plus get ready for a long line of vetos from president obama. gearing up for a fight with republicans on a slew of issues. hour 2 is two minutes away.
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stuart: why is the president letting terrorists go? that is exactly what is going on. five men with known terror connections have been released from gitmo. there are 122 still there. they are the worst of the worst.
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we caught them. we got them. the president will let them go too. the president's press secretary was asked why are you doing this? he said guantanamo bay was a recruiting tool for terrorists selling has got to be closed. were the cherif kouachi brothers motivated by gitmo? utter nonsense. bosh ernest said only 6% of those released went back to terror. surely one would be too many. my opinion the president wants to fulfill a campaign pledge and to him that is more important than protecting americans. then there's the issue of calling islamic terror by that name. calling it is like terror. the president won't do it. terror, extremist violence workplace violence certainly but never islamic terror. why not? my opinion, this president doesn't want to admit that on his watch islamic terror reignited. he did nothing when poison gas was used in syria and now i
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terrorist training ground. he failed to acknowledge the emergence of isis and now they are be heading americans and sending their people to attack us on our own soil. in a moment we will hear from the president himself. he is holding a news conference with david cameron. two questions will be allowed for president obama. let's hope one of them asks why his anti-terrorist policy is such a failure and what he is going to do about it. ♪ stuart: right from the get go not much change in stock prices, 36 on the dow. look at go pro, highflier last year, moving lower after digital ally, that is a company, says it is considering getting into the consumer camera business itself digital allied makes wearable cameras for police officers. go pro is down 47, twitter bouncing back just a little after those social media stocks
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were slammed across the board yesterday, $0.66 a gain for twitter. activevision, call of duty, advanced warfare was the top game last year, up she goes, 6%. will bouncing back a little, $47 a barrel, dare i say we may be at a bottom after a long collapse in oil? we shall see. there are 23 states in the $1 club where does the average for regular gas is below $2 a gallon. the interest rate barometer 1.79% of the yield on a 10 year treasury earlier it was 173 179 is extremely low. let's get back to terror. i think the president is taking a huge political risk of delivering on his campaign promise to close gitmo by releasing suspected terrorists, a great deal of risk there. the white house press secretary josh ernest defended the move.
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>> only 6% or so of those transfers have been suspected or confirmed to have rejoined the fight. it would be unwise to neglect the fact that the prison at guantanamo bay continues to inspire violent acts around a glow. not as if we can avoid violence by keeping the present open-end keeping them locked up. that continues to be an active source of inspiration recruitment for terrorists. stuart: christian witten is with us. my premise is the president is taking a huge political risk by releasing terrorists and not taking a stand against islamic terror. what say you? >> it is politically stupid and stood for policy but politically this is something the american people support, they are in favor of guantanamo in favor of
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enhanced interrogation, they are opposed to catch and release and opposed to bringing these people stateside and ernest is basically lying. he said 6%, obama administration reported two years ago that 20% of people who are released return to the fight or suspected, probably higher than that because we don't have perfect information. of the five you can expect at least one will return to the fight at a very high level. stuart: explain this to me. why is the president doing this? why such a soft approach to an obvious terror threat? can you explain why he is doing it? >> in two years he was a senator before he decided to run for president, it was like woodstock for the progressive movement. when iraq was going poorly and there must be some other way to approach this whole thing, and ultimately they want to blame america first. it is america to them that causes the autism which they can't call it that, not some
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ancient force that has gone new life in the modern world not a desire to unify mosque and state, things we do and we need to stop doing them. that was the bedrock philosophy of progressivism obama bought into the me is the most ideological president since woodrow wilson and no amount of fact is going to change that. stuart: did you see this? watch your monitor. john kerry is in paris, he says he is not there to apologize but to give a big hug. he brought james taylor, the singer. james taylor to seeing you have got a friend. this happened. this is diplomacy? this is our response to terrorism? john kerry goes to paris, the scene of the disgraceful butchery and brings james taylor to seeing you got a friend? what do you make of this? >> you couldn't make this stuff. if i wrote a novel and put that in it would have to get cut. no one would ever believe it.
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it would be funny if it wasn't so dangerous and provocative because vladimir putin is watching this, the mullahs in tehran are watching this and john kerry ought to go. this is just terrible. also john kerry sphinx there are only two countries in europe germany and france. back to the 2004 campaign we have a broad coalition including places like the u.k. and spain and the dutch and the poles and czechs and none of that mattered to john kerry. he feels up said the we are at crosswords with paris. stuart: this is not going to change. there are two more years of this in which we put a soft face on terror. what do you say? >> it is going to get bad because vladimir putin has gotten no push back to what he is doing to you green. the iranians are swindling us.
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the chinese are doing whatever they want to in the south china sea. iraq and syria have collapsed. the caliphate we were joking about as a punch line year ago has come into being in the middle east and nothing obama is doing is likely to reverse that. stuart: we have a presidential press conference with david cameron from britain coming up later on this morning and we will see what questions the president answers and how he answers them. thanks for joining us. appreciate it. thank you very much. latest fox news poll, two thirds of the country say the u.s. is in recession. the president keeps trumping growth and a strong recovery. cheryl: median income is still at 51,000 and that is where we were in 1995 after inflation. stuart: half the country half the households make more half make less, right in the middle $51,000 a year, same as 1995.
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you tell me. stuart: isn't it down from 53 54,000 in 2006-2007? >> yes, you are correct. you were talking in the last hour we were adding jobs, more and more low-paying jobs we are adding jobs in the service sector, bartenders, waiters, those working at mcdonald's, that is where the job growth is because the unemployment rate has gone down, americans are like i will take whatever i can get and older workers are still struggling those who don't have degrees are still struggling. anyone that has a lower income will come out and say i don't feel good in this recession. i am still in recession. you may not think i am in recession but i am personally and if they vote that we watch out. stuart: more than 2 million illegal immigrants will not only get amnesty under president obama, but they will be eligible to collect social security and medicare benefits that there is more. here's where it gets
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interesting. they can also claim the earned income tax credit. don't be confused by the expression tax credit. this is cash. the amnesty for 2 million people will allow them to claim cash, a check direct from the united states treasury. look who is here, political prospects editor-in-chief cany any down from boston where she is a harvard law undergraduate. >> up from florida this week. stuart: lot of people are going to be outraged at this. this is not some fringe group saying they are going to get the money. this is the congressional budget office. >> absolutely. americans will see this as a slap in the face. you, point out median income, labor force participation, a full 1-third of the country is out of work. this is a problem and in the face of that you have illegal immigrants receiving medicare, social security and earned income tax credits and the heritage foundation points out
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this will cost the american people $2 trillion over the course of an illegal immigrant's life. stuart: specifically the checks and the income-tax credit program, not trillions of dollars, that is probably several billion dollars short-term. >> exactly. stuart: they are here illegally, the president says you can stay here is amnesty. we will give you a social security number and that is all accurate and because of that you get social security benefits medicare benefits and you can apply for a check from the treasury. >> yes and a lot of parents of illegal immigrants that are given legal status under the president and executive order will get green cards and within five years will be eligible for all programs. the 2 trillion number of accounts for what you said plus all the other welfare benefits they will be getting in time. heritage foundation's 2 trillion, he has a lowball estimate. when you look at anything trillion dollar debt, that my
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generation will be paying is troubling. stuart: i don't think people realize this. the amnesty for 5 million immigrants, the congressional budget office says 2 million of them will be eligible for the income-tax credit. i don't think people know that they are going to get a check from the treasury. it is not widely known. >> young people are concerned with the national debt and in favor of illegal immigrants attaining legal status don't take this into account. >> this is a contradiction but young folks generally are on the side of the illegals. a very humane age group but you got to pay for this. >> my generation sees it as part of a new civil rights movement, generosity, friendliness but don't put a price tag on it. when you put a price tag on it it doesn't work out. stuart: it is fundamentally unfair. you got people in this country who are struggling and we are
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going to divert money and give it to people who have been given amnesty. >> 55% of americans say they are falling behind financially. 55 present and you add the illegal immigrants and give them status and checks. stuart: the president is buying votes. come on in 2 to 5 million people, we will give you cash, you better vote for us, he is not saying that but that is what is going on. cheryl: you wants led hispanic vote. everybody wants that vote. stuart: on my time? i am paying for this? >> bring up the equity is inevitable that you flagrantly violated the law and are rewarded benefits. stuart: i came here legally. i got my green card legally. no one gave me a check. i didn't look for a check. welcome to new york. of pleasure i am getting exasperated here but you are calling me down. thanks very much.
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president obama promising to veto any legislation he doesn't like. to keystone pipeline, iran sanctions, total obstruction next.
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stuart: government scientists say 2014 was the hot c1 stuart: government scientists say 2014 was the hottest year on record. data from the national oceanic and atmospheric administration and nasa shows the average global surface temperature was just above 50 degrees in 2014. that is 1.2 degrees warmer than the average of every year for the entire 20th century. mike marino from the climate depot will join us monday. easygoing to poke some holes in this one? find out monday on the program. president obama and britain's prime minister david cameron will hold a joint news conference moments from now. here is peter barnes with a
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preview. what is this i hear about only two questions allowed, is that it? >> the white house and other leaders of the government seem to agree there is the white house press corps and the british press corps. and -- nice longeteer bstions. stuart: i will place a bet. president has his choice to he asks to asketeer bstion. one not a. pr ed henry from the fox -- the average time he spends entering his plea to qer bstions will be eight minutes for each one. >> i will not take that bet
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because we are told the entire press conference including opening statements will probably last 45 minutes. if you do your mack you are right. stuart: any sign of them so far? it was supposed to be 12:15 and now is sart:8. where are they? >> they may still be in the meeting. they were scheduled to talk ophe in3 for an hour, isis, russia, the ukraine trade, and they run a little late given the short amount of time and had a working dinner last night. stuart: i am looking at the scene, the prime minister and the president will be standing. and stand ups in front of podiums as we speak. i you going to be in there? i want to know where you are going to sit?
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is there a pecking order? >> rich edson is in there because it is team coverage to have somebody, one of us is out here to do the reporting. and assigned seating in the briefing room. and there are a bunch of seats for folks who don't have assiteaed seating, and s wi a. pred for its in the past and there is plenty of room and rich will be in there in case it is a % fer bstion. nt sagen: i was curious to the reporters were going to be. and the white house correspondent, jonathan carl is at cbs. and actually representing this
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is james rosen. will fox be called on? doubtful today obviously. it has been preselecteith bloomberg neani, i have a feeling. stuart: will you take -- cheryl: my money is on chris. stuart: i got two be ed. do you think our fox person james rosen will be asked a estion? i say not a prayer. will the average time the president takes to answer his twoeteer bstions be at least eight minutes each? cheryl: can we do this friends? i am going to take six manhattan you take eight and split the difference. stuart: no, no. cheryl: i have covered a lot of these. one thing i have noticed is one question will be asked, both leaders are going to anss wir. chou don't look at the camera and the one assignment on this question and gone and done but thg n had a rookie dinner last
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night and had a cool situation where they took pictures and no one was allowed to asketeer bstions later but they heard a camera saying we got a lot done. who knoani? thg n are not there yet. stuart: we are waiting for the president and the prime minister to appear. as we we we will take a short commercial break. we have a lot more news in a moment. 3rd and 3. 58 seconds on the clock, what am i thinking about? foreign markets. asian debt that recognizes the shift in the global economy. you know, the kind that capitalizes on diversity across the credit spectrum and gets exposure to frontier and emerging markets. if you convert 4-quarter p/e of the s&p 500 its yield is doing a lot better... if you've had to become your own investment expert, maybe it's time for bny mellon a different kind of wealth manager ...and black swans are unpredictable.
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to we are awaiting a joint news conference. it will be held in front of those two podiums. on the big board right now we should note that as the news conference is about to get underway, the news conference is underway. the dow stock that shaving about 20 points off the dow industrials. remember when apple was $119? that was last november. i want to play for you part of a speech from congressman trey.
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>> president obama announced one of the largest constitutional paragraphs ever by a chief executive. he did claire, unilaterally, that almost five onion undocumented aliens will receive the action under some new definition under proclamation. stuart: he is responding to president obama. a whole line of the toes right there. vetoing the 40 hour workweek. vetoing the keystone pipeline. will they back up up with this series of vetoes? lisa joins us now. how far to the left are they prepared to be dragged by this
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income that president? >> it really represented the end. he really has not had to use his veto threat yet. it is to be seen how much he will actually use his veto authority. president obama is sending a strong message to republicans that it is my way or the highway. moving forward unilaterally on immigration. he has also said that message by making these sort of veto threats. we need to be sending legislation like the keystone pipeline to his desk.
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stuart: we just brought the news. 2 million of these illegal immigrants that will be granted amnesty by the president, up to 2 billion of them will be allowed to get benefits, as well as a check from the government. 2 million people. this is the congressional budget office. dooley and this did immigrants will get a check from the united states treasury. i am wondering how many democrats will back it up.
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where is this money coming from? we cannot afford this. >> the democrats are in trouble here. why are we giving amnesty illegals checks from the government? are they going to vote for it? will they do that in the senate? you tell me. >> it is income that upon us to tell the american people why these policies are bad. amnesty may sound good to americans. we need to explain why those things are bad. it is because taxpayers are the ones that will end up paying the cost. it is our responsibility to make that case and tell americans. stuart: there is some movement there in the room at the white
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house. the news conference is about to begin. we are waiting for the two men to appear. we are told it will be imminent. we will be able to listen in when it happened. the president will almost certainly be asked about terrorism. i suspect he will be asked why he does not call it islamic terrorism. why is he releasing prisoners from gitmo out into the population? are you expecting any rich wreath? >> all we have seen is weakness from this precedent.
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we see these things happen across the world. we are sitting idly by. we have a president that is afraid to declare a war on terror. stuart: he does not want to admit that on his watch islamic terror has been reignited. right after that election, up comes isis. the president seems to have a war that. i think he is very concerned that it does not get out there. i think that is where he is coming from. >> we have seen someone who is repeatedly were concerned about his legacy. we have seen this in foreign-policy. we have seen this with
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obamacare. we have seen this time and time again. this is coming, does it surprise you coming from a president that one said that isis is jb? stuart: we are going to take a quick break. we will be back after this. at ally bank no branches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda.
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at ally bank no branches equals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason.
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it could've been brenda. stuart: the joint news conference will start very shortly. there was an agreement released between britain and the united states. >> we just received a fax sheet. this is about cyber security and infrastructure. stuart: peter barnes. as i understand it, he wants america to monitor users of facebook and twitter to help international intelligence. is that right? >> they do not refer to it in this statement. putting pressure on u.s. technology companies.
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stuart: when the two leaders now, their opening statements will be about cyber security. >> that will be part of it. i hope somebody asked the question about this that correction issue. other companies use this technology to protect customer data. >> they will be footing some funding into research. stuart: and encryption system that you cannot break into even if you have a warrant to look into that issue. the prime minister and the president are appearing. let's listen in. >> please have a seat.
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good afternoon everybody. this marks a notable anniversary. 200 years battle in new orleans. we call it a great victory over our mighty united kingdom. our british friends call it a technicality. either way we long since have made up. on this 200th anniversary we count the united kingdom as one of our greatest friends and strongest allies. it is a great leisure to welcome by minister mr. cameron back to the white house. you notice how comfortable the two of us are working together.
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several analyzed how this term has default over time. something confused. what does obama mean? let me put the speculation to rest. david is a great friend. one of the closest and most trusted friends. we see the world the same way. we recognize that, as i have said before. our nations are more secure and our asians are more prosperous. the world is more just. david has been personally and outstanding partner. i thank you. both of our economies are growing and unemployment is falling. we discussed how we can create more jobs for our people.
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we believe that this needs to be the year where the united states and european union make real progress towards the transatlantic trade and investment product. as innovated the economies, we are expanding digital technologies to improve how our government serve our businesses. we decided to expand our cooperation on cyber security to protect our infrastructure businesses and people. we believe that a strong commitment to reducing greenhouse gases will be an essential element of any ambitious live in agreement we seek in paris this year. with regard to security, american tradition unity is
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enabling challenges. on the need to support ukraine's economic and democratic reforms. we need to remain united as we seek a comprehensive plan. additional sanctions on iran would undermine that international unity and set back our chances for a diplomatic solution. as the two leading contributors, we urge the world to continue studying up with resources that are required so that we do not simply stop this disease. in the wake of the vicious attacks in paris, as well as the
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new servicing out of well jump, today we continue to stand unequivocally. with all of our partners that are dealing with this. i know david joins me when i say we will continue to do everything in our power to help france seek the justice that is needed. all of our countries are working together seamlessly. with our combat mission in afghanistan over, we are focused on equipping afghan forces to secure their own country and deny al qaeda any safe haven there. we will continue to count on our british allies as one of our strongest counterterrorism partners. we reviewed our coalition's progress against iseult.
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we are systematically taking out their fighters. we are destroying their infrastructure. we are putting them on the defensive. david and i agree we need to keep stepping up the training of iraqi forces. we will not relent until this terrorist organization is the strike. the attacks also underscored how terrorist roots are actively trying to inspire and support people within our own countries to engage in terrorism. i lead a special session at the security council last fall to rally the world to meet the foreign debt of terrorist fighters. david and the united kingdom continue to be strong partners in this work. we both recognize that intelligence and military force alone will not solve this
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problem. we will keep working together on strategies to counter violent extremism that radicalize this and mobilizes people. especially young people. we also look forward to welcoming our british friends to our summit next month. whether in europe or in america a critical weapon against terrorism is our adherence to our freedoms and values at home. including the poor result and respected tolerance that he finds us as they are diverse. i want to congratulate david on last month agreement. a tribute to the courage and determination of everyone involved. the united states was pleased to
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play a small role in achieving this agreement. we will keep doing what we need to do to support the peace process and a better life for the people of ireland. >> think you very much and thank you for welcoming me to the white house. you are a great friend to britain and to meet personally. we share the same now use. we have seen the world in the same way. most of the time, we speak the same language. in the last six years since you became president and in the nearly five since i have been prime minister, we have faced some big issues on our watch. those challenges fall into one word. security. economic security. national security. at the heart of both issues, the
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values that our country chose, freedom of expression, freedom of law and our democratic institutions. those are the things that make both of our countries strong. even in the midst of the violence, strong leadership will come through to safer homer and brighter days. you have had to deal with massive banking crisis. britain had the highest budget deficit in its peacetime history. five years ago we had 110,000 troops serving together in afghanistan. things to their efforts, today it is afghan forces taking responsibility for security in their country. first and foremost, we have to deal with the warning like crashing in the global economy.
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week rolled in the euro zone. slowdown in emerging markets. we agreed that 2015 could be a pivotal year for ambitious trade deals. the uk is the top destination for american and foreign investments. providing dirty 2000 jobs. america is the uk's against trade partner. we want to build on this. our message on the economy today is simple. we will stick to the course. seen through our economic plans is only sustainable way to create jobs, raise living standards and secure a better future for hard-working people. britain and america both face
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threats to our national security. in recent weeks, we have seen appalling attacks in paris nigeria. the world is sickened by this terrorism. we will not be standing alone in this fight. we know what we are up against and we know how we will win. we face a poisonous ideology. with our allies, we will confront it wherever it appears. the uk is the second largest contributor to the coalition. we will deploy additional intelligence to help iraqi forces on the ground. we will make sure that they are better trained and equipped. most important of all we must
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also fight the poisonous ideology. starting at home. in the uk, we are passing a law where every body must come back extremists. in europe, russia has chosen to tear up the international rule book. it is important that every country understand that and no one in europe forget our history. we will continue to put pressure on russia to resolve this crisis diplomatically. we also reaffirm our obligations as nato partners to stand by our
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allies. we remain absolutely committed to ensuring that iran cannot develop a nuclear weapon. the best way to achieve that now is to create space for negotiations to achieve. we also have to keep threats -- we have agreed to deepen our cyber security corporation to better protect ourselves. finally, we face, the entire world faces the growing threat of diseases. the future, it could be a global pandemic. the u.s. action and library a are beginning to turn the
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corner. we must get better to responding to these global health emergencies. establishing a team of exports to be on standby to deploy anywhere in the world. an international platform to stimulate the design and platform for new drugs. the year we must tackle extreme poverty. we will set nuclear goals. fighting corruption. these two things have the potential to give security to future generations to calm.
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they have stood as kindred spirits and defending our freedoms. today, as we survey a world in flux we stand rooted in the strong history. if our forebears could join us here in the white house today they may find the challenges that we are facing. they may find those hard to comprehend. they will surely recognize the ties that bind us. we stand together so often. we fundamentally believe the same things. that is as true today as it has always been.
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>> thank you david. we will take a few questions. >> this is a bipartisan bill. why do you oppose a bill that would only impose sanctions if you fail to reach an agreement? would you go so far to veto a bill supported by top democrats? i understand you have been making photos -- phone calls to senators on this issue.
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>> i would really like to hear your reaction from the news that mitt romney is running for president again. [laughter] >> on your last question, i have no comment. [laughter] >> on your first question, when i came into office, i made a commitment that iran would not obtain a nuclear weapon. we would do everything that we could to prevent that. that is important for our security and it is important for the world's security. if they obtained a nuclear weapon it would make our job in terms of preventing nuclear materials much more difficult.
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it would threaten directly our closest allies, including israel. ultimately, it could threaten us. what we did was systematically, with the help of congress, construct the most forcible, most effective sanctions regime in modern history. what was remarkable was when i came into office, the world was divided around this issue. iran was united. through some very strong diplomatic work, we united the world and isolated iran. a very hard nosed not and bold
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discussion. the deal that we entered into also froze progress on their nuclear program. rolled back, in some cases the stock piles and materials that they had already accumulated and provided us insight into the program that was unprecedented. we had people on the ground unable to verify and inspect what was going on. that is not just our assessment. the agreement is held in the negotiations have had serious. we have not lost around. in fact, iran's program has not only been -- we have made gains in rolling back some of the stockpiles that they had.
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now, we have on the table currently a series of negotiations over the next couple of months to determine this. what has been remarkable is that unity that we have maintained with the world and isolating iran and forcing them to negotiate in a serious way. it includes not only china, but it also includes russia. they have continued to cooperate with us in setting forth positions that would give us assurances that iran was not developing a nuclear weapon. i have always said that the chances we could actually get a diplomatic feel are probably less than 5050. iran is a regime that is deeply suspicious of the west. deeply suspicious of us. in the past they have secretly
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advanced aspects of this program. we have huge differences with them on a whole range of issues. but, if in fact we still have an opportunity to get a diplomatic deal that provides is verifiable assurances that they are not developing nuclear weapons that is the best possible outcome we can arrive at right now. the question i had for members of congress including those folks in my own party is, why is it that we have to take actions that may jeopardize the possibility of getting a deal over the next 60-90 days. what is it precisely that will be accomplished. i can't tell you what the risks are. i think david shares my assessment here.
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under the interim deal that brought iran to the table, we are not supposed to initiate new sanctions. you will hear argument that these are not new sanctions they are laws putting in place additional sanctions. the likelihood of the entire ago sheesh and collapsing is very high. if that happens, there is no constraint on ironic at that point going back and doing exactly what it had been doing before they came to the table. developing a heavy water reaction. once felt extraordinarily difficult to dismantle. very difficult to hit
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monetarily. accelerating advanced centrifuges that sure did the time span in which they can achieve. they would be able to maintain that the reason they ended negotiations was because the united states was operating in bad faith and blew up the deal. there would be some sympathy to that view around the world. sanctions that we have them placed now would potentially pray because these sanctions are a hardship on countries around the world. the reason that they have hung in there despite their economic interest is because we have shown we are trying to solve this problem. th


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